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Buyers & Sellers: Frank McCourt Sells Palm Beach Home For $99.13M

Former Dodgers Owner FRANK MCCOURT has sold his beachfront home in Palm Beach, Fla., for $99.13M to billionaire hedge fund manager KEN GRIFFIN. McCourt paid a then-record $77.06M for the house in April '17. Griffin with the purchase "appears to have squared off his oceanfront estate -- the largest in Palm Beach." The sale is the "second biggest-dollar single seller/single buyer deal ever in Palm Beach" (PALM BEACH DAILY NEWS, 9/7).

BUYERS & SELLERS: Warriors co-Owner JOE LACOB and his wife NICOLE CURRAN have purchased a "decidedly decadent" oceanfront mansion on Malibu's Carbon Beach for $29.1M. The home features three levels and over 5,500 square feet of "contemporary living space." There is a "loggia with a full outdoor kitchen and a bar-style table with a central fire feature, plus a hot tub with sweeping ocean views" (VARIETY.com, 9/6). The property has five bedrooms and six bathrooms and also "touts a home theater, elevator and glass room gym" (San Jose MERCURY NEWS, 9/7)....CSE Founder & CEO LONNIE COOPER has purchased a home in Atlanta for $8M. The 3.5-acre property contains a 24,800-square-foot English manor-style mansion with six bedrooms and 7.5 bathrooms. The main home features a "two-story foyer with a pair of arched staircases and a two-story great room." The terrace level "includes entertainment, media, exercise and spa spaces." The pool house is also two stories (BIZJOURNALS.com, 9/10)....Former NHLer CODY HODGSON has sold his Waterfront Village condo in Buffalo for $785,000. The 2,620-square-foot unit has three bedrooms and 3.5 bathrooms (BIZJOURNALS.com, 9/11).

SBJ Spotlight: TikTok’s threat to traditional sports media

While tech companies are consumed with finding ways to compete with TikTok, almost no one in conventional media “spends any time talking about it,” said Recode senior correspondent Peter Kafka in an Spotlight interview with SBJ’s John Ourand. “To me, that’s just an obvious disconnect.” Kafka authored a recent column headlined, “It’s TikTok’s world. Can TV live in it?” He said the main response to TikTok’s growth from traditional media execs has been to “punt and hope it’s someone else’s problem a quarter from now or two years from now.” But Kafka said that ignores the trend of conventional broadcast audiences growing older while a billion younger consumers spend most of their media time watching short video after short video. “If you’re in the business of getting anyone under the age of 30 to look at what you’re putting on a screen, you have to think about the fact that you’re probably asking them to put down TikTok and watch your thing instead,” said Kafka. “That’s a very difficult ask. … [TikTok] is insanely addictive.”

SBJ Morning Buzzcast: June 29, 2022

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